Exhibit 12.1

INTEL CORPORATION
STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
     
 
 
 
 
Nine Months Ended
(Dollars in Millions)
 
Sep 29,
2018
 
Sep 30,
2017
Earnings1 
 
$
18,025

 
$
14,557

Adjustments:
 
 
 
 
 
Add - Fixed charges
 
742

 
733

 
Subtract - Capitalized interest
 
(381
)
 
(212
)
Earnings and fixed charges (net of capitalized interest)
 
$
18,386

 
$
15,078

 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
Interest2 
 
$
337

 
$
493

 
Capitalized interest
 
381

 
212

 
Estimated interest component of rental expense
 
24

 
28

Total
 
$
742

 
$
733

 
 
 
 
 
 
 
Ratio of earnings before taxes and fixed charges, to fixed charges
 
25x

 
21x

1 
After adjustments required by Item 503(d) of Regulation S-K.
2 
Interest within provision for taxes on the consolidated condensed statements of income is not included.